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H.R. 392 (eliminates country caps…)

For some time, activist groups such as Immigration Voice (IV) have lobbied Congress to change the law on green cards. Specifically, the statute li ...


Crazy Hypocritical

I’ve often written that the word Asian is misused, often for calculated political reasons. For instance, in the currently pending lawsuit against ...


Andy Xie: Change Is Coming, and With It a Reckoning - A Fire Smoldering in the Minds of Men

"The world needs a new generation of policymakers who don’t hobnob with billionaire speculators and who understand workers’ concerns. Unfortunatel ...


Go Home, Washington: Korea For The Koreans!

Springtime in Korea. Peace and love have erupted all over the mountainous peninsula as the leaders of the two rival nations seek to end the nearly ...


What Recovery? Median Real Net Worth Still 34% Below 2007 Level


Abengoa Is Back At It

How to prevent its shares from dropping below €0.01?


China And Gold: As The Yuan Goes, So Goes Gold (Trade War Effect?)

Over the past year, Gold has been looking quite similar to China’s currency, the Yuan. Eerily so. Bloomberg had this story back in July of this y ...


Two Kinds Of Economists

Or, rather, I classify economists into two kinds on each of three dimensions (Table 1). Table 1: Classifications For EconomistsEmphasis on social ...


EU Justice Commissioner Quits Facebook In Disgust, Doubles Down On Regulatory Threats

The European Commissioner for "justice, consumers and gender equality" abruptly closed her Facebook account this week, describing her account on t ...


Weekly Commentary: Q2 2018 Z.1 Flow of Funds

Non-Financial Debt (NFD) expanded at a seasonally-adjusted and annualized rate (SAAR) of $2.283 TN during the quarter. While this was down from Q ...


One Of Australia's Biggest Banks Caught Committing Mortgage Fraud On Elderly Couple

An elderly couple in Western Australia found themselves to be victims of a mortgage fraud that ultimately cost them about $200,000 and their marri ...


Debt-Laden College Students Spend More Time Working Than In Class

The skyrocketing cost of tuition has not only resulted in a student debt bubble that is approaching $1.5 trillion, but it is also causing American ...


Stocks and Precious Metals Charts - Autumn - FOMC and Comex Option Expiration Next Week

There was a 'flash crash' in the precious metals futures this morning in honor of the quad witch option expiration. This is the Dr. Evil strategy ...


PayPal Bans Alex Jones And InfoWars For "Promoting Hate"

Following in the footsteps of corporate giants Apple, Facebook, Google and Spotify, on Friday PayPal said it was is terminating its relationship w ...


Anatomy of Seattle’s Rental Market

A construction boom, a flood of new high-end supply, not enough demand, rising vacancy rates, and soaring concessions.


Merrill: "Existing Home Sales have Peaked"

A few excerpts from a Merrill Lynch research note: We are calling it: existing home sales have peaked. We believe that the peak was at 5.72 millio ...


FOMC Preview: "We Have the Nerve to Invert the Curve"

The quote in the title should be the motto for the 2018-2019 FOMC. For the FOMC is set to raise its interest rate target next week and expected to ...


Bank of America Spots A "Watershed Data Point"

Retail investors are back with a bang: in the last week, investors plowed $13.9BN in global equities (of which $18.3BN was in the form of ETF infl ...


2.2 Million Homes Still In Negative Equity As Of Q2 2018 (Ten Years After)

The housing crash and financial crisis from The Big Short and Margin Call occured in Q4 2007 and throughout 2008 and the first half of 2009. Yet, ...


Ripple Is Up 150% This Week, Passes Ethereum As 2nd Largest Cryptocurrency

Altcoin Ripple has soared over 150% this week (up 50% today) to its highest level since May as optimism spread surrounding Ripple Labs Inc.’s plan ...


Corporate Debt and Leveraged Loans: Financial Snags Ahead?

It was 10 years ago in September 2008 that the worst of the financial panic crashed through the US economy. Where might the next financial crash b ...


The Psychology of Playing the Lottery

On this week’s podcast we discussed some stats from a recent Bloomberg piece about the lottery: The lowest-income households in the U.S. on averag ...


Gold Flash Crash With $1.2 Billion Of Futures Contract Trading (Silver Flash Crashes Too)

Strange days! First, the lovable losers from the “mistake on the lake” (aka, the Cleveland Browns) beat the New York Jets for their first victory ...


May Doubles Down, Demands Respect From EU as Talks Hit Impasse (Sterling Gets Pounded, FTSE Spikes)

Brexit, the ridiculous constrainted trade association of Europe (sold as a free-trade association), should be halted as soon as possible for the U ...


There’s a New Bible Out for Defeating the Trump Era and Its Corporate Masters

There’s a New Bible Out for Defeating the Trump Era and Its Corporate Masters By Pam Martens and Russ Martens: September 21, 2018 ~ Wall Street On ...


Gold Flash-Crashes Below $1200, Over A Billion Notional Puked In 1 Minute

As the dollar suddenly spiked this morning, someone puked over $1.2 billion notional gold futures in the space of one minute, sending the precious ...


Five Stabbed Including Three Infants At NYC Day Care; Butcher Knife, Meat Cleaver Recovered At Scene

A 52-year-old day care worker is accused of stabbing five people, including three baby girls no more than a month old, at a short-term residential ...


Good Job, Fed! When Wall Street Gets Lower For Longer, Main Street Gets LBO Mayhem Multiplied


Multiple Online Banking Systems Go Down in the UK

Payment chaos. For bottom-line-obsessed bank executives, IT systems are an expense that needs to be slashed. The results are showing up.


Tilray Crash Continues As Early Week Gains Go Up In Smoke

Well that escalated quickly... Yesterday's waterfall collapse has extended in the pre-market, sending the cannabis company's stocks back below ...


Analyst Quits His Job Days After Downgrading Tilray

Marijuana stock Tilray has dominated the media over the last week, making early investors (read: anyone who bought it more than a month ago) boatl ...


NYC Home Sellers Are Slashing Prices "Like It's 2009"

The crumbling New York City real estate market has continued apace during the third quarter, after more than half of homes sold in Manhattan durin ...


The UK Public Finances have an August stumble

Yesterday we looked at the plans of Lord Skidelsky for fiscal expansionism. Let me add to that the implication of his lines of thought is that he ...


BOJ Unexpectedly "Stealth Tapers", Sparking Japanese Bond Selloff

The global bond rout accelerated overnight, when Japan surprised the market - which had been already on edge over the BOJ's tightening intentions ...


Your Ticking Countdown Clock

Suppose, for an instant, that there's nothing unique about you, other than being an average American that has reached your current age. As such a ...